Securitisation

British Land Co PLC 29 May 2001 For immediate release 29 May 2001 The British Land Company PLC ('British Land') Securitisation of 35 supermarkets leased to Sainsbury's British Land announces that UBS Warburg has been mandated to lead manage a multi-tranche offering of bonds securitising the cashflows on 35 supermarkets owned by The British Land Group and leased to Sainsbury's. The bonds will be issued by Werretown Supermarkets Securitisations plc, a UK special purpose vehicle established solely for this purpose, with the proceeds being on-lent to The British Land Group. The offering is expected to raise £550-600 million. The pre-marketing of the bonds is expected to commence immediately, with the issue formally launched once the pre-marketing period has been completed. Contacts: The British Land Company PLC Tel: +44 20 7486 4466 John Ritblat, Chairman John Weston-Smith, Finance Director UBS Warburg Ltd. Tel: +44 20 7568 1000 Caroline Philips / David Newby Edmund Craston
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